Free underwriters, lawyers, adjusters, and others for higher-value work
With stalwarts and insurtech startups
Improve response times in underwriting and claims
RPA and template-based automation solutions fail to work on unstructured data, leaving gaps in digitization efforts since 85% of an enterprise’s data is unstructured.
|Indico Platform||RPA + OCR Digitization Efforts|
|Standardized structured data (ACORD)|
|Structured data with variations (loss runs, invoices)||Program rules for each variation|
|Unstructured data (policies, emails)||Impossible|
|Images (property, insurance cards)||Impossible|
Automate the large number of ACORD forms without having to create custom rules for each form. Extract and convert form data into standardized formats for ratings and claims systems.
Business owners often choose from the first batch of quotes. Cut turnaround times to win new business. Remove administrative non-value-add steps so underwriters can focus on analysis, adjusting mods, and keeping loss ratios under control.
Summarize loss runs to speed up underwriting and quantify risk. Without programming rules for each different loss-run format, flag patterns and key items, extract reasons, sum payouts, and get custom data for analysis and automatic entry into ratings systems.
Free expensive attorneys, workers’ comp adjusters, and assistants from administrative steps. Speed up the processing of images, faxed paperwork, FNOL, policies and other data—unstructured or otherwise—without sacrificing due diligence.
Extract key data points and set up claims in the claims management system. Validate the information before sending it to an adjuster. Automate end-to-end simple claims.
Automate appraisals to determine property value or compensation to accelerate the process. Extract unstructured data including receipts, purchase and sale agreements, images, and contractor estimates.
Reduce the business burden and speed up responses to regulatory bodies. Classify all pertinent documents, index relevant content, and enable smart searching to quickly retrieve documents for regulatory bodies.
Slash non-value-add steps to increase enrollment capacity. Classify incoming applications and supporting documents, extract the right information from each into downstream systems.
Automate much of the workflows involving unstructured documents. Discern a discharge summary document from a medical history record document or a case ID number from a member ID number to reduce errors and accelerate processes.
Unlike point products which handle just one or two use cases or require in-depth training, business users can easily train the Indico AI on new use cases across the organization.